China supports private enterprises in pork production

BEIJING - China has issued a circular on supporting private enterprises to engage in pork production and develop related industries to ensure market supply.

China will work to beef up policy support for the private enterprises, optimize the market environment and guide them to enhance the development quality of the industry, according to the document jointly released by the National Development and Reform Commission (NDRC) and the agricultural ministry.

Private firms are major supplying forces of meat products in the country, accounting for more than 98 percent of pig farming enterprises, said the circular posted on the website of the NDRC.

It vows to boost the implementation of various supportive measures and help solve difficulties facing the enterprises including land use, environmental protection, bank loans and insurance services.

Financial support should be increased by continuing to channel funds within the central budget to support hog production, while tolerance for bad loans to the sector should be increased, said the circular.

Data from the finance ministry showed that China allocated more than 17.1 billion yuan ($2.44 billion) of funds between September and January to boost pork production.